CHAMWE KAIRA
The Capricorn Group has announced several dealings in securities by several of its directors in a statement issued on the Namibian Stock Exchange (NSX). The announcement marked the culmination of a two-year journey for the directors, as their share awards under the conditional share plan finally vested.
According to the NSX notice, Marthinus Johannes Prinsloo, a director of Capricorn Group Limited, exercised his vested shares awarded under the conditional share plan. On 2 September 2022, he had been granted 48 967 shares. Now, with the passing of two years, those shares were ready to be exercised. With the transaction price fixed at N$19.54, the total value of his transaction amounted to N$956,815.18.
Prinsloo on 17 September 2024, exercised another portion of shares granted to him back in 2021. This award, consisting of 36 150 shares, also stood at the same price of N$19.54 per share, bringing the total transaction value to N$706 371. A direct beneficial interest and the necessary clearance meant all procedures were in place, according to the notice.
Bank Windhoek’s Managing Director, Baronice Hans also too exercised her vested shares under the conditional share plan. On 2 September 2024, she moved forward with 29 172 shares awarded in 2022, racking up a transaction value of N$570 020.88 at the familiar price of N$19.54 per share.
On 17 September 2024, Hans exercised two portions of shares. The first batch of 28 950 shares awarded in 2021, valued at N$565 683, would be under the conditional share plan. The second portion of 25 127 shares would come under the share appreciation rights scheme, bringing in an additional N$490,981.58.
Both directors, with a direct beneficial interest in their respective transactions, had obtained the necessary clearance for their dealings.
Capricorn Group’s company secretary, Hellmut Gottlob von Ludwiger, had his own significant dealings. On 2 September 2024, he exercised 9 793 shares, valued at N$191,355.22 under the conditional share plan. And come September 17, 2024, Hellmut would be ready once again, exercising 10 000 more shares awarded back in 2021, bringing in N$195 400.
In order to motivate and retain employees, companies typically require that employees fulfill certain conditions to earn and retain stock-based compensation awards. These are commonly called vesting conditions. An award is considered vested when an employee’s right to receive or retain the award is no longer contingent on satisfying the vesting condition.
Exercisability refers to the date when an option may be exercised by the employee. In most cases, the vesting date and the exercisability date are the same.
